Market Perspectives – February 2, 2023

U.S. Weather/Crop Progress

U.S. Drought Monitor Weather Forecast: The National Weather Service Weather Prediction Center has forecasted a significant ice storm (valid January 30 – February 2) is forecasted to bring freezing rain, sleet, and ice accumulations over portions of the Southern Plains and Mid-South. The storm is expected to bring prolonged power outages and cause treacherous travel conditions. Moving into next week (valid February 4 – February 8), very chilly conditions are expected across the Northeast as cold air and gusty winds settle in under upper-level troughing. Dangerous wind chills and possibly new daily temperature records are in store for much of the Northeast region. Temperatures could stay below zero all day in parts of Maine and in the single digits in much of northern New England. This cold airmass is expected to sink further south along the Eastern Seaboard leading to temperatures 10-20F below normal. Temperatures are expected to rebound across the East as warmer temperatures over the central U.S. migrate eastward after the weekend. The West however could stay around 5-10F below average especially in terms of highs underneath upper troughing. A frontal system could spread some light snow to the Midwest/Great Lakes regions and Northeast this weekend, and amounts could be enhanced downwind of the Great Lakes. Light precipitation is possible along the Eastern Seaboard while the West could expect generally light to moderate precipitation in the form of lower elevation rain and higher elevation snow.

At 8 – 14 days, the Climate Prediction Center Outlook (valid February 9 – February 15) calls for below-normal temperatures across much of the West, from the Pacific Northwest to the Southwest, and much of Alaska. Near-normal temperatures are expected in parts of the Northwest, northern and central Rockies and southern Plains, including southwest and eastern Alaska, while the eastern half of the contiguous U.S. and the Alaska Panhandle have the greatest probability of warmer-than-normal temperatures. Most of the U.S. can expect above-normal precipitation with the probability of near-normal precipitation occurring in much of the Northwest, the Florida Peninsula and northern Alaska and in parts of southern Texas.

Follow this link to view current U.S. and international weather patterns and future outlook: Weather and Crop Bulletin.